US private sector payrolls grow less than forecast in September

US private sector payrolls increased by 154,000 in September, according to private payrolls specialist ADP.

Economists had penciled in a rise of 160,000.

The largest businesses, those classified as having over 500 employees added 64,000 staff, followed by medium-sized enterprises which added another 56,000.

Most hiring was in the services sector, which accounted for 151,000 of the new job posts, versus just 3,000 for goods-producing firms.

By industries, the biggest jump in hiring was in professional and business services, which took on another 45,000 people.